The global Cosmetic Grade Color Additives Market is estimated to be valued at US$ 279.6 Mn in 2023 and is expected to exhibit a CAGR of 28.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Cosmetic grade color additives are mainly used in various cosmetic products such as foundation, blushers, nail polish, lipsticks, eyeshadows, hair colors, etc. to enhance product appearance as well as give color effects. Main types of color additives include pigments, dyes, and lakes & toners. Pigments provide opacity and durability whereas dyes impart color but have less opacity. Lakes & toners are used to blend different pigments and dyes. Color additives play a vital role in customizing personal care and cosmetic products to meet dynamic consumer preferences regarding shades.
Market key trends:
One of the key trends in the The global cosmetic grade color additives market Size is the rising demand for natural and organic color additives. Consumers are increasingly preferring products containing natural ingredients over chemical ones owing to rising health concerns. This has prompted makers to offer natural alternatives to synthetic colorants. For example, plant-based pigments such as henna, turmeric, and saffron are gaining traction. The COVID-19 pandemic has further stimulated demand for natural and organic variants. Manufacturers are leveraging this opportunity by diversifying their portfolios with naturally derived colors to meet consumer demand for safer ingredients.
Porter’s Analysis
Threat of new entrants: The cosmetic grade color additives market requires high R&D investments and regulations provide barriers for new players to enter.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and differentiated products from existing key players.
Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to availability of alternative suppliers and dependence of buyers on key raw materials.
Threat of new substitutes: Threat from substitutes is moderate as natural color additives have established demand but synthetic ones continue to capture market share.
Competitive rivalry: The market is moderately competitive due to presence of large number of players and differentiation in products.
Key Takeaways
The global cosmetic grade color additives market is expected to witness high growth, exhibiting CAGR of 28% over the forecast period, due to increasing demand for natural and organic cosmetic products.
Regional analysis:
Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period. This is attributed to large populations and increased per capita spending on personal care products in countries such as China and India.
Key players
operating in the cosmetic grade color additives market are AlgoSource (France), Bluetec Naturals Co., Ltd (China), DIC Corporation (Japan), E.I.D. – Parry (India) Limited (India), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Givaudan SA (Switzerland), GNT Group B.V. (Netherlands), Hangzhou OuQi Food co., Ltd. (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Japan Algae Co., Ltd. (Japan), Jiangshan Comp Spirulina Co., Ltd (China), Merck KGaA (Germany), Phyco-Biotech Laboratories (France), Pond Technologies Inc. (Canada), Qingdao Haizhijiao Biotechnology Co., Ltd (China), Qingdao ZolanBio Co., Ltd. (China), Sensient Technologies Corporation (U.S.), SPIFORM (France), Wellisen Nutraceuticals (U.S.), Xi’an Fengzu Biological Technology Co., Ltd. (FZBIOTECH) (China), Yunnan Green A Biological Project Co., Ltd. (China), and Zhejiang Binmei Biotechnology Co., Ltd (China).
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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